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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
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Scudder Global Fund Semiannual Report for the six month period ended
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</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> SCUDDER GLOBAL FUND
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 2
<NAME> SCUDDER INTERNATIONAL BOND FUND
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